5 Tips to Consider when Developing a Name for New Products

Coming up with a new name for one of your products can be a long and laborious task. But it is worth the effort. Aside from the design and the function of your product, it can be the most important influencer for a successful launch. And, if it’s a great name like Kleenx, you can be the benchmark within your industry for years to come!

Unfortunately developing a great name does not always occur without a faux pas. As reported in BusinessWeek, Microsoft spent upwards of six months to develop the name “BING” for its search engine formally known as “Live Search”. And as we all know, even with all the resources and time spent, they failed to note that some may poke fun at the fact the name could stand for But It’s Not Google!

So it’s safe to say that coming up with a new name requires some serious consideration and deliberation from many angles. Hopefully the following five tips below will make the process a little smoother and help you to avoid any ‘BING’ mishaps.

• It’s a numbers game - Enlist in help from a team of people who are intimately aware of the product and brainstorm a long list of names. Make sure everyone tried out the product and understands the vision and the target market. Since you need to meet the objectives of many opposing restrictions such as; memorable, relevant, distinctive, available, competitively different and positive, it takes time and patience to come up with a great name.
• Easily Understood - Probably the most important thing a name can do is communicate something about what the product does (or is), the benefits and how it applies. This may not always apply but when it can, it will really help to “perk up” prospects ears and drive them to your booth or ad since they instantly understand the product through the name. This can also be a good opportunity to provide prospects with a mental image of the product; but just remember to be cognizant of all the mental images may be associated with the name you choose.
• Line Extensions - Always keep in mind the possibility of line extensions. Do you know what your next product is going to be? If you are planning on developing more products alongside this one try and think ahead and choose a name that can work easily with others. On-line Consideration • Don’t forget to not only search to check if your favourite name’s domain is available but also check to see what comes up when you simply “google” the name itself. This will help you to consider alternate meanings that may come up with your chosen name. Remember that now more than ever people are searching by directly putting the name into the browser. So obtaining that URL is crucial.
• Multi-lingual - Don’t forget to think about how the name will translate into other languages. You may need to consider using numbers within the name in order to be easily understood in all languages.

Most of all have fun and start brainstorming!

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